Cole Taylor Business Capital announced the funding of a $22 million facility for Gartner Studios and Gartner Greetings. Proceeds of the facility will be used to refinance the company’s existing debt and to fund ongoing working capital.
Gartner Studios creates do-it-yourself products to celebrate special occasions, offering more than 7,000 products through most major retailers and specialty stores in North America. Best known for its line of customizable party goods and stationery products, the company designs, manufactures and distributes celebration assortments such as wedding invitations, party favors and cake decorating supplies.
Cole Taylor Business Capital also funded a $5 million facility for Wilcox Paper, a wholesale distributor of paper and paperboard products. Proceeds of the facility will be used to refinance the company’s existing debt and to fund ongoing working capital.